System1 (SST) Change in Receivables (2021 - 2026)

System1 has disclosed Change in Receivables across 6 years of filings, most recently posting -$4.0 million for Q1 2026.

• Change in Receivables for Q1 2026 came in at -$4.0 million, down 248.88% year-over-year; the trailing twelve-month figure through Mar 2026 was -$7.8 million (down 186.39% YoY), and the FY2025 annual result was -$4.9 million, down 172.43% from the prior year.
• Change in Receivables came in at -$4.0 million for Q1 2026 at System1, down from $3.6 million in the prior quarter.
• In the past five years, Change in Receivables ranged from a high of $14.8 million in Q1 2022 to a low of -$15.9 million in Q3 2025.
• The 5-year median for Change in Receivables is -$3.1 million (2023), against an average of -$1.6 million.
• Across the five-year window, Change in Receivables sank 341.02% in 2022 and soared 288.88% in 2024, its largest moves.
• System1's Change in Receivables stood at $2.1 million in 2022, then plunged by 248.5% to -$3.1 million in 2023, then soared by 273.07% to $5.3 million in 2024, then tumbled by 31.65% to $3.6 million in 2025, then tumbled by 211.01% to -$4.0 million in 2026.
• The last three Change in Receivables figures came in at -$4.0 million (Q1 2026), $3.6 million (Q4 2025), and -$15.9 million (Q3 2025), per Business Quant data.